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Savills Investment Management forms Chinese joint venture

by Andrea Waitrovich

Savills Investment Management has formed a joint venture with a Chinese private equity firm to invest in real estate opportunities in the United Kingdom, Europe and globally.

The partner is China Minsheng Investment Capital, a subsidiary company of China Minsheng Investment Corp., which will develop and promote a series of funds and investment vehicles to invest in global real estate markets.

The joint venture is the first of its kind between an international real estate investment manager and a private Chinese investment company.

The first major initiative resulting from the joint venture is a new real estate fund, CMISIM European Investment Fund, in which CMIC is the cornerstone investor with seed capital up to £30 million ($47.26 million). The fund aims to deliver a net return to investors of 15 percent.

The majority of the seed capital in the fund will be invested into Savills Investment Management’s Prime London R